he was a clinton democrat. >> let's start about deals, tax inversions. how should this company think about tax inversions? the iconic nature of a company like that. for the first time thinking they want to effectively relocate for practical purposes at least the holing company is for tax purposes for a 5% spread on taxes. >> it's a billion dollars a year. >> and the uk tax system as being better than hours. what do we have to do? >> you have a short-term problem and long-term problem. i'm talking about political timetables. of course screams corporate tax reform. we need to reform corporate taxes in this country. both sides, you know, republicans and democrats agree on that. but tax reform takes a long time. that's why i say it's a long-term problem. if you just study history, the '86 tax reform act, other examples took a long time. three and four years actually from beginning to end occur. it is not going to happen quickly here. so the short-term question is, should we just sit back and let all of this happen. >> right. >> or should there be some interi